Ventura Foods has reached a deal to purchase the Dressings, Sauces, and Mayonnaise (DSM) business from Cargill. Cargill DSM makes products such as mayonnaise, tartar sauce, flavored dressings, and sauces for national foodservice companies and distributors. Cargill will continue to produce and market its oil and shortenings products.
"We remain very committed to being a leading provider of oils and shortening to North American consumer package goods companies, retailers, foodservice companies and food distributors,” explained Cargill Fats & Oils North American Regional Managing Director, Gonzalo Petschen, in a statement. “The sale of our DSM business will allow us to operate more efficiently, and bring more and better offerings and services to our customers.”
Ventura Foods, a producer of custom and proprietary dressings, sauces, mayonnaises, oils, and flavorings, has grown significantly over the past five years. In addition to its proprietary products, Ventura Foods' consumer brands available at retail include the following:
"The acquisition of Cargill's DSM business furthers Ventura Foods' strategy to grow, strengthen and diversify. It adds greater depth to our already strong capabilities and another platform for innovation," added Chris Furman, Ventura Foods' President and CEO. "We are highly confident in our ability to successfully integrate this important business and look forward to continuing the excellent work of Cargill's DSM team. We look forward to welcoming a number of the talented and experienced Cargill DSM employees to the Ventura Foods family."
Details included in Ventura Foods' acquisition of Cargill's DSM business are as follows:
The transaction is expected to close in the second quarter of 2016, and monetary terms of the agreement have yet to be disclosed.